US Construction Spending +0.8% In Feb; Consensus +1.2%

The U.S. Census Bureau announced the following value put in place construction statistics for February 2017:

Original Article on Morningstar

WASHINGTON--Total spending on construction in the U.S. rose a seasonally adjusted 0.8% in February from January to reach the highest level since April 2006, the Commerce Department said Monday.

Economists surveyed by The Wall Street Journal had projected a 1.2% increase.

Private-sector construction outlays also rose 0.8% to reach the highest level in almost a decade. Public sector spending rose 0.6% in February. It was the first monthly increase since October for the category.

The Commerce Department report on construction spending can be found at http://www.census.gov/construction/c30/c30index.htm

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